Gold Rates Today Sees Big Jump; 24K, 22K, 18K Gold Prices In Kerala, Mumbai Vs Delhi; Buy Before Chhath Puja?

Gold rates in India saw a big jump on October 24th, despite international and MCX precious metal prices recording steep downsides as investors focus on a potential agreement between US-China trade. The price of 100 grams and 10 grams of gold in 24 carats rose by Rs 3,800 and Rs 380 on Friday. This also comes ahead of Chhath Puja, which is one of the most popular festivals in India.

Among the major cities, gold prices rose significantly in Mumbai, Kerala and Delhi. Which city offers expensive gold? The answer is Delhi!

Gold Rates In India:

Overall, 24 carat gold price surged by Rs 3,800 to Rs 12,54,600 on October 24, while 10 grams gold price climbed by Rs 380 to Rs 1,25,460.

Meanwhile, 22 carat gold rose by Rs 3,500 in 100 grams to Rs 11,50,000 and was up by Rs 350 to Rs 1,15,000 per 10 grams.

In case of 18 carat, 100 grams gold is up by Rs 2,800 to Rs 9,40,900 and 10 grams is up by Rs 280 to Rs 94,090.

The cheapest gold in India is priced at Rs12,546 per gram for 24 karat gold, at Rs 11,500 per gram for 22 karat gold and at Rs 9,409 per gram for 18 karat gold (also called 999 gold).

Gold Prices In Mumbai Vs Delhi Vs Kerala:

Gold rates are similar in Mumbai and Kerala.

-100 grams up by Rs 3,800 to Rs 12,54,600

-8 grams gold up by Rs 304 to Rs 1,00,368

-1 gram gold price is up by Rs 38 to Rs 12,546

22 Carat Gold Price:

-10 grams gold is higher by Rs 350 to Rs 1,15,000

-100 grams gold is higher by Rs 3,500 to Rs 11,50,000

-8 grams gold is up by Rs 280 to Rs 92,000

-1 gram gold is up by Rs 35 to Rs 11,500

18 Carat Gold Price

-10 grams gold is up by Rs 280 to Rs 94,090

-100 grams gold is up by Rs 2,800 to Rs 9,40,900

-8 grams gold is up by Rs 224 to Rs 75,272

-1 gram gold is up by Rs 28 to Rs 9,409.

Gold Rates In Delhi:

24 Carat Gold Price

-10 grams gold is up by Rs 380 to Rs 1,25,610

-100 grams gold is up by Rs 3,800 to Rs 12,56,100

-8 grams gold is up by Rs 304 to Rs 1,00,488

-1 gram gold is up by Rs 38 to Rs 12,561.

22 Carat Gold Price

-10 grams gold price surged by Rs 350 to Rs 1,15,150

-100 grams gold rose by Rs 3,500 to Rs 11,51,500

-8 grams gold climbed by Rs 280 to Rs 92,120

-1 gram gold price edged higher by Rs 35 to Rs 11,515

18 Carat Gold Price

-10 grams gold jumped by Rs 280 to Rs 94,240

-100 grams gold climbed by Rs 2,800 to Rs 9,42,400

-8 grams gold is up by Rs 224 to Rs 75,392

-1 gram gold edged higher by Rs 28 to Rs 9,424.

What Is Impacting Gold Rates In India?

As per Aksha Kamboj, Vice President, India Bullion & Jewellers Association (IBJA), domestic demand, which was strong during the festive season, has softened in the short term, resulting in small corrections. However, gold still retains long-term worth as an inflation hedge and market volatility buffer.

Furthermore, Kamboj added, in the period of international uncertainty and changing monetary policies, the appeal of gold as an investment is back in the spotlight. The metal's path will most probably remain range-bound in the short term, with traders waiting for clearer global economic guidance.

All About Chhath Puja:

During Chhath Puja, prayers are dedicated to the solar deity, Surya, to express gratitude for the blessings of life on Earth and to seek the fulfilment of personal wishes. The Hindu goddess Chhathi Maiya (or Chhathi Mata)-the sixth form of Prakriti and Surya's sister-is also worshipped during the festival. It is celebrated for six days after Deepavali or Tihar, until the sixth day of the lunar month of Kartika (October or November) in the Hindu calendar (Vikram Samvat), which is why it is called 'Surya Shashti Vrata'.The rituals are observed over three nights and four days, and include holy bathing, fasting, abstaining from drinking water as a vrata (devotion), standing in water, and offering prasada (prayer offerings of food) and arghya to the rising and setting of the Sun.[20] Some devotees also perform a prostration march as they head towards the riverbanks. All devotees prepare similar prasada and offerings, as per Wikipedia.